Shares of Skechers U.S.A., Inc. (NYSE:SKX) have received a consensus rating of “Buy” from the sixteen analysts that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $31.82.
SKX has been the subject of a number of research reports. Vetr raised Skechers U.S.A. from a “hold” rating to a “buy” rating and set a $32.12 price target for the company in a research note on Monday, July 10th. BidaskClub raised Skechers U.S.A. from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Citigroup Inc. raised Skechers U.S.A. from a “neutral” rating to a “buy” rating and increased their price target for the company from $25.52 to $30.00 in a research note on Thursday, June 1st. B. Riley reissued a “buy” rating and set a $37.00 price target on shares of Skechers U.S.A. in a research note on Friday, July 21st. Finally, Buckingham Research set a $34.00 price target on Skechers U.S.A. and gave the company a “buy” rating in a research note on Saturday, July 22nd.
In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 1,004 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $27.24, for a total transaction of $27,348.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard Rappaport sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $28.38, for a total value of $42,570.00. Following the sale, the director now owns 20,000 shares in the company, valued at $567,600. The disclosure for this sale can be found here. Corporate insiders own 21.73% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Seven Eight Capital LP purchased a new stake in shares of Skechers U.S.A. in the second quarter worth approximately $105,000. Tower Research Capital LLC TRC raised its holdings in shares of Skechers U.S.A. by 430.9% in the first quarter. Tower Research Capital LLC TRC now owns 3,844 shares of the textile maker’s stock worth $106,000 after buying an additional 3,120 shares during the period. US Bancorp DE raised its holdings in shares of Skechers U.S.A. by 94.9% in the first quarter. US Bancorp DE now owns 3,895 shares of the textile maker’s stock worth $107,000 after buying an additional 1,897 shares during the period. Aviance Capital Management LLC purchased a new stake in shares of Skechers U.S.A. in the second quarter worth approximately $109,000. Finally, Exane Derivatives purchased a new stake in shares of Skechers U.S.A. in the second quarter worth approximately $118,000. Institutional investors and hedge funds own 70.57% of the company’s stock.
Shares of Skechers U.S.A. (NYSE:SKX) traded up 1.31% during trading on Wednesday, hitting $26.39. The company had a trading volume of 2,308,020 shares. The stock has a market capitalization of $4.18 billion, a P/E ratio of 18.30 and a beta of 0.18. Skechers U.S.A. has a 52 week low of $18.81 and a 52 week high of $30.00. The firm’s 50 day moving average is $27.22 and its 200-day moving average is $26.75.
Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings results on Thursday, July 20th. The textile maker reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.06). Skechers U.S.A. had a net margin of 5.92% and a return on equity of 12.79%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $966.46 million. During the same period in the previous year, the company posted $0.48 earnings per share. Skechers U.S.A.’s quarterly revenue was up 16.9% on a year-over-year basis. Equities research analysts anticipate that Skechers U.S.A. will post $1.57 EPS for the current fiscal year.
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About Skechers U.S.A.
Skechers U.SA, Inc is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Company operates through three segments: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales.
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